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Even worse, WeWork doesn't generate that much more revenue from tenants than it spends servicing its enormous lease obligations. They admit in the risks sectio
by jly 7y ago
Even worse, WeWork doesn't generate that much more revenue from tenants than it spends servicing its enormous lease obligations. They admit in the risks section that a significant portion of their members are small and medium sized businesses/freelancers who may be negatively affected by economic downturn. Their average lease duration is 15(!) years, and most do not have early termination provisions.
Oof.
- speedracer 7y agoThey don't have early termination provisions!?? That better have come at a steep discount for WeWork to take such a risk.